Gahcho Kué nearing completion
JOHANNESBURG (miningweekly.com) – After reaching 80% completion at its joint venture Gahcho Kué diamond mine, located on the Canadian tundra, TSX- and Nasdaq-listed Mountain Province Diamonds (MPD) would now, over the next six months, focus on commissioning the primary crusher and diamond plant, as well as prepare for operational readiness.
The project was progressing according to plan and budget and was on track for first production in the second half of 2016, the company said in a statement.
MPD was advised early last week of the planned cessation of operations at De Beers’ Snap Lake mine and the opportunities this would afford selected Snap Lake employees to be hired at Gahcho Kué. Forty-one Snap Lake employees were transferred to Gahcho Kué and a further 60 would be transferred next year as the mine prepared for production.
MPD held 49% of the mine, with De Beers Canada owning the balance.
“The regrettable decision relating to Snap Lake will have no impact on plans for the Gahcho Kué mine. On the contrary, Gahcho Kué will benefit from the availability of trained and experienced employees, who are being transferred to Gahcho Kué to support operational readiness,” De Beers Canada CEO and Gahcho Kué JV management committee chairperson Kim Truter commented.
MPD president and CEO Patrick Evans further noted that procurement under the capital programme was 99% complete and preparations for the 2016 ice road deliveries were also well advanced.
“The project continues to meet our lending group’s tests-to-completion and the final 2015 drawdown against the project finance facility has occurred. During the year, a total of $158-million was drawn against the $370-million facility. Mountain Province is fully funded to commercial production and also has a $75-million cost overrun facility in place,” he added.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...
VISIT SHOWROOM
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
